The IAAF is setting up its first official world rankings which will serve as an entry criteria for major events, including the world championships and 2020 Olympic Games.

It has prompted Athletics ACT to start thinking outside the box about ways to ensure Australia's top competitors continue to race in Canberra, including hometown stars like Melissa Breen and Lauren Wells.

The AIS track is considered one of the fastest in Australia, making Canberra an important stop on the summer athletics circuit for anyone chasing international qualifying events.

Olympic champion Sally Pearson has been a regular in the capital, while Breen set the 100 metres Australian record at the AIS in 2013 and Commonwealth Games aspirants flooded the ACT championships earlier this year.

But the IAAF - the athletics governing body - has determined an athletes' positions in the rankings will be based on points scored, with global events set to provide a clear hierarchy of competitions.

Athletics events in Canberra will need to attract some of the best athletes in the world or risk falling well behind international standard with points given depending on performance and placing, as well as the importance of the competition on the global athletics calendar.

Athletics ACT chief executive James Kaan has held meetings with Athletics Australia boss Darren Gocher to work out how they position competitions in the future to ensure premier athletes can compete in Canberra.

Kaan is working on the basis Canberra will host a meet and hopes for some clarity surrounding Athletics ACT's standing on the elite schedule in the coming months.

"It is worrying that if the permits aren’t given out across at least three or four of the major events and we’re all running around at F-graded events where athletes aren’t given the same opportunity because they can’t afford to go to Europe or even to Asia to compete in those series of meets," Kaan said.

"The AIS has been a massive drawcard. The track there is one of the fastest, if not the fastest in Australia, so athletes want to come and race there.

"We’re in a good position in that sense but it is going to be difficult because the IAAF and Oceania Athletics are the ones who designate the permits for the meets that earn you more points.

"We’re working on the basis that we need to be able to provide an international level event in Canberra."

Athletics ACT officials are already thinking outside the box in a bid to ensure they bring elite athletes to the capital and secure high ranking events.

Kaan is keen to tap into an existing relationship with athletes based in Qatar and Japan that have run in ACT events in the past as an avenue to higher gradings.

"We as an association of athletics in Australia, need to be working a lot closer with our international counterparts to keep the level of competition up because we can’t fall behind," Kaan said.

"We want people to come out and watch athletics, we want people to be excited about athletics. For us, because of the new ranking system and athletes not needing qualifying times in traditional events - so they can go and run a 1km and it will count towards an 800m - rather than having to run a specific time in a specific event.

"We’ve been talking about things like putting on a 600m for the men and a one km for the women, and we can see athletes try to chase a national record which may not have been broken because it’s not run very often.

"Little things like that we can see as an opportunity for us, being one of the best tracks in Australia, to do things like that. Regardless of what the permit is, we’re working on the basis that we’ve got to offer something that is a little bit non-traditional.

"Athletics Australia is working with Japan and New Zealand athletics associations to see what we can do together to offer better competitions."